By David Cobham, Ghassan Dibeh
This publication examines financial coverage, principal banking and alternate expense regimes within the heart East and North Africa. half I covers crucial banking and fiscal coverage, whereas half II covers financial coverage and trade fee regimes. a few chapters specialise in the financial frameworks of specific international locations, together with Lebanon, Algeria, Syria, Tunisia, Morocco, and Turkey, outlining different structures operated in each one case, contemplating their successes and screw ups, and discussing very important matters similar to govt coverage, macroeconomic functionality, inflation and inflation concentrating on, primary financial institution independence and the impression of broader political financial advancements at the behavior of financial coverage. different chapters disguise thematic concerns around the entire quarter, together with: valuable financial institution independence, operations of debtor vital banks, the impression of trade charges on inflation, and the impression on international locations’ exchange of other trade fee regimes. Drawing at the insights of students and policy-makers, this publication is a crucial source for an individual eager to comprehend the economies of the center East and North Africa.
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Extra resources for Monetary Policy and Central Banking in the Middle East and North Africa (Routledge Political Economy of the Middle East and North Africa)
Cobham and G. ), Monetary Policy and Central Banking in the Middle East and North Africa. Routledge: London. B. (1992) Monetary Sovereignty: The Politics of Central Banking in Western Europe. Ithaca: Cornell University Press. P. (1964) ‘Banking in Lebanon’. The Banker, 114, July, pp. 442–448. Hani, K. (1984) ‘Some Characteristics of Industrial Growth in Lebanon, 1974–1984’. AtTarik, 43(6), 70–85 (in Arabic). R. (1994). Currencies and Policies in the United States, Germany, and Japan, Washington; Peterson Institute for International Economics.
The number of labour disputes rose from 208 annually in 1955 to 1068 in 1963 and the number of strikes rose from 4 in 1955 to 36 in 1963, with a peak of 58 in 1959 (Khalaf, 1965). Labour unions were pushing for and obtaining higher wages during the period from 1961 to 1966. In addition, collective bargaining was instituted in 1964 by a legislative decree that gave workers more bargaining power vis-à-vis management. 15 Although during the 1960s rural workers had departed in increasing numbers to the cities and hence constituted a large pool of reserve labour to be tapped by the industrialists (Smith, 1974), workers were not receptive to the process of industrialisation.
The first, rather obvious, advantage is that the evaluation has to be based only on legal documents, without considering any political or institutional arrangements (usually informal and complex) or any actual procedures or practices not clearly established in law. In other words, the assessment can be factual and the information set limited to a small number of easily available sources. Another advantage is that one can consider only well established and legally enforced rules, which are likely to prevail against informal procedures in the case of serious conflicts between different institutional bodies.